SpaceX has closed $40 billion in debt financing to buy graphics processing units for its artificial intelligence buildout, Elon Musk said in posts on X on Sunday, as reported by Reuters and CNBC. Musk said the financing is primarily callable debt, tied to GPU purchases that will arrive in the first and second quarters of 2027, and that it is not a major factor for the current quarter.
The closing completes the financing first reported on October 6 and 7, when SpaceX was reported to be seeking $40 billion, then described as about $10 billion in bank loans and $30 billion in investment grade debt, with Apollo expected to lead. Reporting during those talks, carried by CNBC from Bloomberg, described a possible special purpose vehicle to keep the debt off SpaceX’s balance sheet and talks led by Goldman Sachs with investors including Apollo. Neither report on Sunday’s closing confirmed that structure, and no interest rate, maturity or lender allocations were disclosed.
Musk attributed the closing to SpaceX’s position as an investment grade borrower with revenue from Starlink and its launch business. He said debt markets have in recent weeks almost entirely shut off access for companies without substantial revenue independent of AI data centres, and predicted widespread failures and consolidation among the more than 200 neocloud companies that rent out AI compute. That market claim is Musk’s own and was not independently verified in the reports.
CNBC put the borrowing against the scale of SpaceX’s AI segment, which it calls Super Intelligence: third quarter revenue of $7.56 billion, up ninefold from $813 million a year earlier, making it the company’s largest business unit on the latest earnings release.